Scam Awareness

by Katy Murcutt - Paralegal

28 February 2010, filed under Consumer

February marks Scam Awareness Month. Although this month has now past, it is imperative to keep in mind that scams occur all year round. Scams take place on many different scales. Common scams include fraudulent lotteries, bogus callers, dating scams, mobile phone upgrade scams, hoax prize draws and deceptive sweepstakes. Research undertaken by the Office of Fair Trading has shown that victims are likely to be the elderly or vulnerable and are likely to lose nearly twice as much per scam to an adult of working age.

Launched in 2008 by the Office of Fair Trading (OFT), Scamnesty – an event marking Scam Awareness Month - is run by the Office of Fair Trading in conjunction with more than 120 local Trading Standards Services, in contrast to only 90 in 2009.
 
From a recent survey conducted by the OFT it was discovered that approximately one in eleven adults have responded to a scam. The result of this is approximately 1.4 million people in the UK have lost all of their life savings as a result. Email is the most common scam approach undertaken by scammers. More than seventy-three per cent of adults have received at least one scam email in the past year.

Chief Executive of the Office Fair Trading, John Fingleton, stated that scammers are becoming more sophisticated with the technologies and tactics they use to con those who may not be confident enough to seek advice from peers or professional advisors. Due to this, Consumer Minister Kevin Brennan has invested over £7 million of tax revenue to create Scambuster teams throughout the United Kingdom to help make information and advice readily available to those who may be in denial or simply too embarrassed to discuss the recent scam they have been subjected to.

According to market analysts, it is thought that the scam industry costs the UK £3.5 billion every year. As scams become more sophisticated, there is increased risk of identity fraud and similar serious crimes that can leave victims with nothing. 

Be scam safe all year round. Make sure you shred all documentation containing personal details, such as utility bills and even junk mail. Credit card fraud is on the increase in the United Kingdom.  Make sure you have internet security features on your computer turned on, such as privacy settings and a filter on your emails so that only members of your email address book end up in your inbox folder.  Remember, if it’s too good to be true, it usually is!